Grounded in Experience: Designing the Financial Empowerment Scale Through Community Dialogues
Carson M. De Fries, Riley Coyne, M. Pilar Ingle, Briana Kohlbrenner, Ingrid Backes, Eric ChessBackground
Financial fraud and exploitation (FFE) are associated with billions of dollars lost annually and have significant adverse effects on older adults.
Objective
Given the challenges and complexities of FFE identification and response, this study aimed to identify domains associated with elder FFE risk from a multidisciplinary perspective.
Methods
This qualitative study interviewed experts within the field through six qualitative focus groups conducted in 2024. A thematic analysis approach was used to identify themes.
Results
Five domains were identified encompassing intersecting factors associated with elder FFE: cognitive health, individual behaviors, social health, financial well-being, and health and environment considerations. These findings demonstrate nuanced FFE risk considerations and the need to approach assessment models from a multidisciplinary, accessible perspective to enhance financial empowerment in older adulthood. Findings will be used to inform development of a financial tool to assess potential risk for FFE among older adults.